The operation of connecting power networks among Russia, Azerbaijan Republic, and Iran will begin in May 2022, an Iranian official said.
Mohammad Ali Farahnakian, advisor to Iran's energy minister for international affairs, told IRNA on Sunday that given a contract among the three countries, implementation of the power network connection project will be launched following the presentation of specialized reports by these states to Iranian engineering consultants in May 2022.
Farahnakian noted that the energy corridor in northern Iran will bring about the nation with unimaginable profits and that it can reduce a remarkable need to invest in the electricity sector of the Islamic Republic.
Given the fact that peak demand in Russia happens in winter, but Iran's peak demand is in summer, the power connection project will help both countries to meet their internal demands for electricity, the advisor noted.
Moreover, Iran faces power shortages just in 10 percent of days in a year, he said, adding that the power connection network among neighboring states can assist Iran to get rid of the lack of investment for new projects.
Technical and economic cooperation with the neighboring countries will enhance security because the neighbors will need each other and secure economic development, he argued.
There are two potential corridors for energy sharing, including the Russia-Azerbaijan-Iran corridor and Armenia-Georgia-Russia, Farahnakian said, noting that Tehran prioritizes each project which is being implemented sooner.
The Azerbaijan Republic has done a remarkable job in this respect; so, Moscow, Tehran, and Baku have agreed upon initiating technical studies, which should be conducted by an Iranian consultant company and paid by all three countries equally.
Iranian Energy Minister Ali-Akbar Mehrabian said in an online discussion with his Azerbaijani counterpart Parviz Shahbazov that the power network connection project will help Russia, Azerbaijan, and Iran to manage peak demand and power shortages.
The Iranian minister also noted that Tehran is ready to exchange electricity with Afghanistan, Turkmenistan, Armenia, Turkey, and Iraq.